UBS Workplace Wealth Solutions taps fintech FutureFuel.io for student loan repayment
UBS Workplace Wealth Solutions, a unit within the financial firm that offers wealth and retirement solutions for workplace clients, is partnering with New York-based fintech FutureFuel.io to offer users a range of student loan repayment options, including reassessments, refinancing, roundups, “Give Back” (repayment through cash-back rewards), and other solutions.
Why should we care?
UBS Workplace Wealth Solutions serves 10,000 retirement plans, many of which are sponsored by small businesses. With student loan repayment options, UBS is enhancing its personal finance and wellness toolkit as student loan repayment increasingly becomes a differentiator among employers. Other employer platforms offer student loans refinancing options through fintech providers, including SoFi and CommonBond. According to FutureFuel.io, users who take up its student loan management program save about $15,000 on accrued interest. For workplace benefits providers, innovative student loan repayment options are becoming table stakes offerings, and other providers, including TransAmerica, have also onboarded with Futurefuel.io. FutureFuel.io has raised nearly $16M in funding.